Thursday, November 8, 2018

Q2 results: PGCIL posts Rs 2,309.49-cr net profit; GAIL net jumps 50%

POWER Grid Corporation of India Limited (PGCIL) has reported a Rs 2,309.49-crore net profit for Q2 FY19, 7.87 per cent higher than the Rs 2,141.04 crore reported in Q2 FY18.
Total income rose nearly 16 per cent to Rs 8689.95 crore. The PSU also reported significantly...
higher expenses — Rs 6,168.37 crore in the latest quarter against Rs 4,880.25 crore in the previous-year period. The higher expenses pushed down the PSU’s margins. Profit before tax and regulatory deferral account balances was reported lower at Rs 2521.58 crore (Rs 2,612.27 crore).
In a regulatory filing, the PSU has recognised transmission income at Rs 7,104.34 crore (Rs 5,770.69 crore). This includes an income of Rs 842.14 crore in Q2 FY19.
The Navaratna Central Transmission Utility (CTU) of India is the largest electric power transmission utility. The PSU has 149,309 ckm Transmission Lines and 237 sub-stations and 344,791 MVA transformation capacity. It also offers transmission-related consultancy to more than 150 domestic clients. Powergrid under the Ministry of Power has global footprints in 20 countries catering more that 25 clients.
It owns and operates over 47,735 km of telecom network and has points of presence in 688 locations.
Gurugram. PGCIL transmits about 50 percent of the total power generated in India on its transmission network. Its former subsidiary company, Power System Operation Corporation Limited (POSOCO) handles power management for Power Grid. POWERGRID also operates a telecom business under the name POWERTEL.
PGCIL started functioning on management basis from August, 1991 and subsequently it took over transmission assets from NTPC, NHPC, NEEPCO, NLC, NPC, THDC, SJVNL etc. in a phased manner and the Navratna PSU commenced commercial operation in 1992-93.
Higher gas marketing and transmission volumes combined with higher petrochemical sales boosted GAIL net profits jumps 50%
GAIL’s net profit to Rs 1963 crore in the second quarter, marking a 50 percent jump from Rs 310 crore in the previous corresponding period. The Maharatna PSU saw natural gas marketing volumes rising by 14 percent, LPG transmission transmission by 11 percent, petrochemicals sales by 4 percent and liquid hydrocarbon hydrocarbon sales by 1 percent. 
GAIL chairman B C Tripathi attributed the improved financials to better margins in the high-performance segments. The petrochemical segment witnessed marked improvement in terms of in terms of growth in physical volume even though margin remained remained under pressure due to increase in input costs -- primarily primarily due to increase in crude price and rupee fall. 

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